🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

ACM Research upgraded at Jefferies on less strict DUV rules

Published 03/07/2023, 14:02
© Reuters.
ACMR
-

ACM Research Inc (NASDAQ:ACMR) was lifted to Buy from Hold at Jefferies, with its price target lifted to $23.40 from $9 per share in a note to clients Monday.

The brokerage firm's analysts said the rating change was based on less strict DUV rules lifting China's fab CapEx.

"The Dutch gov announced the SPE export rules last Friday, allowing the export of ASML's oldest Arf immersion machine, NXT1980Di," they explained.

"Since it's expected that the machine can produce 16/14nm and even 7/5nm, we believe China will buy as much equipment as possible during this golden window," the analysts added.

The firm also raised its 2023E~26E revenue forecast for ACMR by 23% and is now 8% above consensus.

 
 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.